China and the EIB

The European Investment Bank has been working in China since 1995.

Our projects have improved forestry, energy, transportation and other sectors in more than 20 regions of the country. The Bank has made climate action a priority. The aim is that all our lending in the country supports climate and the environment.

Forestry: One of our main projects helped convert barren land into a forest in eastern China on the Yellow Sea. The project covers more than 36 000 hectares of Shandong Province and has improved degraded forestland while increasing resilience to the harsh climate in an area susceptible to marine disasters. The project increased the forest coverage in China by 1.5% and reduced greenhouse gas emissions. It also reduced storm surge, conserved water, improved the soil and preserved biodiversity.

Energy: Our recent investments in energy efficiency have reduced energy use in many residential buildings. We financed a big project to make homes more efficient in the Harbin area of Heilongjiang Province in northern China. Between 2013 and 2017, more than 780 buildings and some 5 million square metres of residential space were refurbished in Harbin. Insulation was added to exterior walls of residential buildings, and meters were installed to measure household heat use. The project was expected to cut heat demand in the buildings by as much as 43% in some cases.

Infrastructure: In 2019, we invested €200 million to improve water transport in Jiangxi Province. The project will increase the river’s depth in the area and extend the upstream travel period, allowing ships to reach key regional cities such as Shangrao and Yingtan. The waterway will be navigable for vessels up to 1 000 tonnes, even in the dry season. Making water transport cheaper and more efficient will encourage people to move away from more carbon-intensive forms of travel. The works included construction of the Bazizui Navigation Hydropower Hub in the lower reaches of the Xinjiang river, one of the five major river systems in Jiangxi. The Hub should be working by the end of 2022. Together with other navigation hubs and lock cascades, this work will significantly improve navigation on the Xinjiang river.

Our impact

The European Investment Bank has been active in Asia for over 25 years. In China, we sign loans with the Ministry of Finance. Our investments act as a catalyst to attract funding from the private sector and help meet the United Nations Sustainable Development Goals (SDGs).

Our recent work in the country is guided by the EU-China 2020 Strategic Agenda for Cooperation. This agenda helps us focus on climate change, environmental protection and sustainable development.

We also cooperated with the Green Finance Committee of China Society for Finance and Banking on the need for a common language in Green Finance (Phase I Report and Phase II Report).